Prico CEO Yossi Fraiman: The deafening silence from the Bank of Israel despite the screams of exporters stands out.
The shekel strengthened against the dollar and euro in morning inter-bank trading today. The shekel-dollar exchange rate has fallen 0.16%, compared with yesterday's representative rate, to NIS 3.506/$ and the shekel-euro exchange rate has fallen 0.19% to NIS 4.824/€.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.511, up 0.11% on Monday's rate, and the shekel-euro representative exchange rate at NIS 4.833/€, down 0.03%.
Prico Risk Management and Investments CEO Yossi Fraiman says, "The deafening silence from the Bank of Israel stands out despite the screams of exporters who are hit by the continual erosion of the profitability of their exports. The artificial stabilization of the shekel around the NIS 3.50/$ exchange rate requires attention and a renewed fall below NIS 3.48/$ might become a snowball that will take the exchange rate quickly to previous low levels."
Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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